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What to Do with Your Tax Refund: 5 Smart Moves for Canadians

  Tax Season · Personal Finance By MoneySavings.ca Editorial Team • May 7, 2026 • 7 min read Tax season is wrapping up across Canada, and for millions of Canadians, that means a refund cheque — or a direct deposit — is on its way. The average Canadian tax refund hovers around $1,800. That's real money. The question is: what's the smartest thing you can do with it? It's tempting to treat a tax refund like "found money" and splurge. But here's the truth — that refund was your money all along. The government was just holding it for you, interest-free. So before it quietly disappears into day-to-day spending, let's look at five moves that will make it work harder for you. $1,800 The average Canadian tax refund — enough to make a meaningful dent in debt, pad an emergency fund, or kick-start your TFSA for the year. 1 Pay Down High-Interest Debt First If you're carrying a balance on a credit card, this should be your very first call. Most Canadian credit car...
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Futures Hold Steady as Wall Street Awaits Key Fed Minutes

US stock futures were largely unchanged early Tuesday as investors prepared for one of the final major catalysts of the year: the release of the Federal Reserve’s December meeting minutes. Futures tied to the Dow Jones Industrial Average, S&P 500, and Nasdaq hovered near the flatline, signaling a cautious tone after a modest tech-led pullback to start the week.

Monday’s session saw all three major indexes slip, with megacap names like Nvidia and Tesla leading declines amid a mild rotation out of tech stocks. The dip comes as traders reassess positions heading into the final days of 2025, a year marked by strong gains across equity markets.

The upcoming Fed minutes are expected to offer deeper insight into policymakers’ thinking after the central bank delivered its third consecutive interest rate cut in December while hinting at a potential pause ahead With only weekly jobless claims left on the economic calendar before year-end, Tuesday’s release could shape market sentiment as investors look toward 2026.

Despite the recent cooling, Wall Street remains on track to close out the year with substantial gains, supported by robust performance in AI-driven tech and resilient consumer demand.


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